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THE OSHAWA DAILY TIMES, TUESDAY, APRIL 2, 1929 A "The Whitby Daily Times ® Advertising, subscriptions and news will be received at the Whitby Office, Dundas Street, next the post office.--Telephone 434. RESENTATIVE -- JAMES HOLDEN United Church Steeple Crashes to the Ground In Violent Wind Storm Small Steeple Fortunately Breaks Its Fall, Preventing it from Crashing Through the Roof HAS BEEN LANDMARK SINCE BUILT IN 1875 Local Police Kept People Away from the Scene, and No One Was Injured in the Crash (By Staff Reporter) Whitby, April 2--The steeple of the Tabernacle United Church, for fifty-four years a prominent local landmark, was blown down during the height of the great windstorm which swept across Ontario yester- day, Early in the afternoon it was seen that the spire was in danger The Story of a Man Who Dared Untold Dangers On Land and Sea for 40 years; Endured Hardships As a Matter of Course; Faced and Fought Injustice, Greed and | Cruelty; on behalf of a Helpless People; i Championed the Cause Of the Common Folk; Suffered With and For Those who had no Help- | 'Clothed the Naked il' Buried the Dead And by his noble example inspired others to go and do likewise. This Story, the Story of Sir Wilfred Grenfell | of the Labrador will be told on | Friday, April 8th, 8 p. m. | ii St. Andrew's Church (Kindly granted) ably and sympathetically told by Dr. Paddon a physician Colleague of Sir Wilfred Grenfell in the Labrador for 17 years, Tickets 50c. Students 25¢ On Sale at Karn's Drug Store . of falling as the wind tore a huge hole in the base on the south-edst side. Civic officials were warned and under the direction of Town Engin- eer, H. L. Pringle, and Chief of Police H. Gunson, steps were taken to prevent people from approaching too close to the danger zone. A large crowd had gathered on neighboring streets and at 5.45 the spire was seen to tilt to the south- east. For a brief second it hung as in a balance and then crashed down from its lofty eminence. By good fortune its fall was broken by the smaller steeple at the north-east corner of the church and therefore the weight of heavy timbers and beams did not break upon the roof but came crashing down in front of the church while another 'section landed in the church lawn at the east side. With the exception of the breaking of a few small window panes no damage was inflicted upon the church building although it was feared that the spire might {fall through the roof. The Tabernacle United Church, formerly the Methodist church, was built in 1875 and is one of the finest, edifices of worship in the county. Its main spire, standing aloft on a. fifty foot tower pointed a tall finger hea- venward and was indeed a thing of grace and beauty. Several years ago it was discovered that the spire was in weakened condition owing to the continual buffeting of the wind and it was then strengthened from the inside with a number of stout tim- bers, It is estimated that it would cost $1,000 to replace it. A number of church officials, in- cluding the pastor, Rev. A, L. Rich- ards, were on hand to watch the steeple fall and were much relieved when the force of the impact was caught on the smaller spire, The church was without light last night as the hydro connection was broken by a falling timber, At the moment the steeple crash- ed the word seemed to spread with surprising speed and people ran to the scene from all directions. A tew small boys advanced upon the wreckage in an endeavor to pick up shingles as souvenirs of the tower but were warned away by Chief Gun- son and Constable Thomas. General regret was expressed that the town should lose this old, but pleasing landmark although the fact that no other damage was inflicted is regarded as fortunate, In all prob- ability the smaller spire will have to be torn down and the two towers surmounted with some other ornge ment in keeping with the architect- ure of the church. WHITBY PERSONALS Miss Clara Hopper, of Oshawa, spent Sunday as the guest of her parents, Mr. and Mrs, Arthur Hop- per 4 Miss Helen Jackson, of the Toronto General Hospital staff, spent the week end visiting at the home of her parents, Mr. and Mrs, Albert W. Jackson, Centre street. Mr. Harold Collins, of St. Thomas, was a week end visitor at the home of his parents, Mr, and Mrs. M. Col- lins, Byron street, Dr. G. H. Stevenson, superintend- ent of the Ontario Hospital has re- turned after a short vacation spent at Washington and the southern states. Miss Barbara Boothe, of Toronto, was a holiday visitor at the home of her parents, Mr. and Mrs. J. F. Boothe, Brock street south. Miss Dobbin, of the public school staff, is visiting with friends in Ottawa. Miss Mabel Rowe, of Toronto, SCREENS It's not too early to think about your screens. Before the Spring painting is done, let us send a man to measure your house and screen every window properly--you take no risk whatever--we look after the whole job for you, from the measurement to the installation. All you need to do is get us to come and when the job is finished, give us your cheque. We suggest doing it now rather than later, so that you will not be - disappointed on account of the rush which is always experienced in the next month, Oshawa Lumber COMPANY, LIMITED 25 Ritson Road North TELEPHONE 2821-2820 was a holiday visitor at the home of her brother and sister-in-law, Mr and Mrs. F. T. Rowe, Byron street south. Mr. and Mrs Roy Fowler and Mr. Lucien Michaud spent Sunday in Toronto. Miss Margaret Hudson, of To- ronto, 'was a week-end visitor at the home of her parents, Dr. and Mrs, H. J. Hudson, Byron street, Mr, Douglas MacLaren, of Up- per Canada College, Toronto, is spending the Easter vacation in town, Miss Alma Jones, of the public school staff, is holidaying at her home in Claremont. FIREMEN"S BALL I8 ; (By Stall Rooter) 0 y Whitby, Apri 2.--The ) Easter Ball of the Whitby Fire Company, held in the town hall auditorium, last night, was well attended and proved a very enjoyable affair. A splendid orchestra was on hand and good music was provided for both round and square dancing. dances also added much to the program, dancing being continued until after midnight. HEAVY LOSS N ONTARIO STORMS (Continued from Page 1) persons received minor injuries, deaths had been reported late night, Auto Carried Away Mr. and Mrs. George Braithwaite, Wiarton, Ont., were painfully injured when a guest of wind carried their automobile out of control near Wa- tertown, Ont, last night. The car crashed into the ditch and both oc- cupants were cut and bruised severe- ly enough to require hospital treat- ment, A number of motor cars were a- bandoned on highways north of Bar- rie, Ont, broken trees and telegraph poles completely blocked the road from Bradford North, and it was re- ported that many motorists spent the night in their cars. Barrie, itself, was almost completely isolated. The storm in Simcoe County was reported as the worst in memory. Port Dover harbor reported an es- timated damage of $75,000 with fish- ing docks swept away, destruction of a $50,000 dancing pier and all con- cessions along the board-walk. Six boats of the fishing fleet returned just before the storm reached a peak and found difficulty reaching their moorings in the harbor, Two crashed on the pier end and were badly dam- aged. At Port Ryere, a few miles along the lake frant from Port Do- ver cottages were damaged when the waves drove across the beach. no last Great Damage Damage at Niagara Falls, Ont, was estimated at $100,000 with the check incomplete. St. Catharines had counted an estimated damage of $50,- 000. In other centres the losses will run from $20,000 upward, while it will be almost impossible to estimate destruction in the Niagara Peninsula, where fruit farms suffered severely, or in rural districts, where barns and dwellings were damaged or destroy- ed. : At Port Colborne the gale piled the lake water over the water-front flood- ing the basements of elevators and other structures, Two railway cars on the pier were swept into the lake. An explosion resulted when water reached the boilers at the govern- ment elevators and fire threatened the huge grain bins for a time. The grain carrier "Riverton" was torn loose from the dock and in the at- tempt to bring the ship back three long-shoremen were swept overboard. They were rescued with difficulty and the bessel re-moored. Man Killed At Buffalo Buffalo, N.Y.,, April 2.--The worst April gale that this section has known was responsible yester- day for the death of one man, for the injury of a dozen others and for property damage that will amount to hundreds of thousands of dol- lars. The wind, which at times reach- ed a velocity of 76 miles an hour, tore ships from moorings, wrecked a hangar at the municipal airport, unroofed houses, overturned barns and garages, tore down signs and broke windows and caused serious interruption of telephone and tele: graph services. The man killed was Leo Grub- na, & truck driver for a Niagara Falls department store, who was crushed to death when a large tree was blown across his truck. Two Dead in Ohio Columbus, O., April 2.--Taking a toll of two lives, injuring a half dozen persons seriously and caus ing thousands of dollars in property damage, a high wind swept over Ohio today and wasted fury last night as it passed into the east. N. L. A. Cornett, Newark (Ohio) radio salesman, was killed almost instantly when the high wind blew a large tree down on his automo- bile, Loa Bacon, 16, of Belmore, near Lima, Ohio, was blown into the path of an automobile as she made her way to the country school along Montooth road. She died of a broken neck and a fractured skull. Two Cleveland men, Frank Moore, 70, a hoisting engineer, and Charles Ziska, 74, were injured probably fatally. The wind buried Moore beneath a heap of debris when it ripped the roof from a building on which he was working. Zizka was struck Dy a sign torn loose from its fastenings by the gale. Millions Damage Chicago, Ill, Apr. 2.--Property damage mounting into the millions and a serious new flood threat re- mained today to remind the mid- west of the rain, wind and snow The introduction of several novelty: that swept over the region Sunday (and yesterday. Heavy rains in the central and blizzards In the northern states had again swollen nearly all streams and the danger was considered ac- ute as the tributaries brought this $|added burden to the Mississippi, which was already nearing the tops of its levees. Patrolmen were called back to duty as the water rose rapidly last night. A stage of 19.6 feet was re- corded on the Quincy, Ill, gauge and government forecasters pre- dicted the water would go over the 20. feet mark by tonight, Property damage in Chicago alone was estimated at $1,000,000. The waves swept over the outer drive in Lincoln Park and made it Becesary to close that thorough- are. Telephone and telegraph lines were down in many states. Wiscon- sin suffered the most and several newspapers in that state were forc- ed to get their outside news via radio. Many of Milwaukee's streets and homes were dark last night and railroad, interurban and motor trafic was tied up. Four deaths were attributed to the high winds which blew down signs, trees, and chimneys, and bowled over small buildings, and barns in Indiana, Arkansas, Mis- souri, Michigan and Illinois. North Bay Hard Hit North Bay, Apr. 2.--While North Bay and district experienced one of the worst snow storms of the sea- son yesterday, no property damage was occasioned. South of here as far as Allandale, a score or more of telephone poles wera down and ser- vice in consequence was interrupt- ed. While sleet was reported In the southern division of the C.N. R. snow alone fell here. Apart from the inconvenience occasioned by the temporary blocking of cer- .in streets by the huge snow drifts, the storm so far as North Bay was concerned, was unevent- ful. In the Capreol and Hornepayne areas, the snow was swirled before a high wind, accompanied by be- low zero weather. Gangs of civic employees today worked under a cloudless sky and a bright sun, clearing streets and sidewalks. Snow at Chicoutimi Chicoutimi, Que., Apr. 2.--Chi- coutimi and district was blanketed with a thick coating of snow today following one of the heaviest storms of the season. Yesterday several inches of snow fell and driven by a high wind, was banked &t a height of many feet at various places. No damage was reported. No Major Calamities Hamilton, Apr. 2.--Although no major calamities were reported in the Hamilton district during yes- terday's severe storm, much dam- age was done by terrific wind to power lines, three trees, plate glass windows and signs. The Dominion Power and Transmission Company suffered several bad breaks to its lines, and sections of the city were without power for hours at a time. All repairs were completed long be- fore midnight, however. "In the harbor, the waves were driven heavily across the heach, causing damage to boathouses close to the share. Today the storm had died away, and the thermomet- er was rising. Heavy Loss In Montreal Montreal, Que., Apr. 2.--Public utilities companies were busy to- day repairing damage sustained during yesterday's gale and found the losses heavy. The Bell Tele- phone Company of Canads was the chief sufferer, it being estimated that cost of repairs to its poles and wires would reach $50,000. Other concerns, such as the Can- adian National and Canadian Pa- eitic Telegraphs and the Montreal Light, Heat and Power Consolidat- ad lost poles and wires. The Tele- phone Company's greatest loss was around Carleton Place, Ont, in the Ottawa District. real and the Maritime Provinces were affected for some hours last night. Today these wires were rking normally. hh Fri Bot and its district did not suffer from the. wind velocity re- ported in other cities. Nineteen miles an hour was the maximum reached by the gale while the aver- age for the day was around four- teen. Sault Ste. Marie, Ont., Apr. 3.-- With the exception of a tempera- ture of 15 degrees below zero the district of Algoma today had re- covered from the effects of the sev- ere storm which raged Sunday night and yesterday. Street car and oth- er trafic was not seriously disrupt- ed and ferry service to Sault Ste. Marie, Mich., was delayed for only a short time, Girl Students Vote to Smoke in Rooms Providence, R.I,, April 2--The girl students of Pembroke Col- lege, Brown University's co-ed branch, have voted that all dor- mitory students be permitted to smoke in their rooms. In addition the college authorities have open- ed a special smoking room for students in one of the college buildings. Kingston, Mass., Jail Is a Real "Cooler" Kingston, Mass., April 2,--This town has a jail that very properly merits the popular designation of "cooler." The local lockup is sit- uated in the basement of the town hall and it is so cold and damp that even in the summer a fire must be maintained to make the place habitable. Whenever pos- sible the police take prisoners to the more modern jail at Plymouth. > es FOR RENT | Bonniebrae Cottage and two smaller cottages at Bonniebrae Point Oshawa. All conveniences. Beautiful location. Ready about May ist. Apply to G. D. Conant Oshawa, Ont. Telegraph circuits between Mont- | DEALING IN CREDIT SUBJECT OF BANK'S GENERAL MANAGER (Continued from Page 3) list of questions prepared by a standard authority: Are the borrower's antecedents and character good? Are his personal drawings from the business large? Has he ever failed or had a sus- piclous fire? Is he well liked and respected in the community? Does he kite notes or cheques? Is he in good health? His age? er," 8 man who makes unfair claims for goods in the hope of getting rebates or other conces- sions? ' Can reliance be placed on his statements? What are hig personal habits? Has he technical ability in his business? } Are his books properly kept? Does he extend credit too freely or without discrimination? Does he cut prices? Is he careful and discriminating in the purchase of his stock, or does he carry an unnecessarily heavy stock? Is he inclined to dabble in out- side ventures such as real estate or stocks? Does the business depend on con- ditions that may not be permanent? Does he allow his machinery to become out of date and inefficient? Does he study the particular wants of hig trade with a view to meeting public demands? Are his accounts receivable and bills receivable all genuine collect- ible accounts, or are they padded with slow or personal or worthless paper? Does he take advantage of all trade discounts? Are his sales out of proportion to his capital? Is his position improving year by year? Has he any large contingent M- ability? 5 Are all hig liabilities given in the statement? Are his profits and expense ac- counts in proportion to his sales? Does he buy his raw material be- fore he is reasonably sure of the amount of his sales? Is he over-ambitious and anxious to extend his plant out of propor- tion to his working capital? Does he turn his capital over quickly, or as many times as his competitors in the same line of business? Does he always plan ahead in re- gard to his financial engagements, and know where the money is to come from? . Has he made provision for con- finuing his business in case of his death? y Is the line of goods he manufac. tures or sells one which is easily affected by changing fashions or seasons? How do his annual sales compare with his stock on hand and bills payable and receivable accounts? On what basis is the inventory taken, and by whom? Are his books audited by a chart- ered accountant? There are quite a few more as to the man's family, whether they are of assistance or @ drag on him; as to his position with reference to life insurance, whether it is payable to his estate, so that in the case of his death it could clear up his li- abilities, without liquidating the business, or whether he has thought only of insurance payable to his wife. Liquid Surplus the Corner Stone When the banker has satisfied himself on these various points he must study the financial statement, and the first and most vital feature is what working capital is disclos~ ed. A liquid surplus is the corner stone of safe lending. If it is small it either indicates the business is being operated at a loss or poorly financed. The proportion which the liquid assets bear to the float- ing liabilities varies with different kinds of business. For example, in a milk distributing business the liquid surplus does not need to be very much, as milk is usually paid for by the householder buying strips of tickets in advance, and the distributor pays the farmer who supplies him once or twice a Is he what Is known as a "rebat- month; whereas a Jumberman re- quires a large liquid surplus. He has to cut his 1 in the winter and allow his lumber to season af- ter it is sawn in the spring and summer before lie is able to bring it to market, ' I am firmly convinced of the value of budgeting. Speaking of budgeting, you will be interested to learn that Canadian Bank of Commerce now have to budget the probable course of their business every month end and for six months ahead, and we arrange before the close of our financial year to have a picture of what our next year's busipess is likely to bring. Setting objectives for the course of loans and de- posits and the various items of expense is proving to be an ex- cellent incentive to the staff, It keeps them in much closer touch with the pulse of their business, and much more cautious about cas- ual expenses in order to keep with- in their estimates, Decentralization of Loans Decentralization is the policy of this bank, The lender is the man- ager of the branch where the ac- count is carried. We make him study the credit and analyze the statement. He has large powers, but must definitely recommend every credit at his branch, or 'it will not 'be authorized by his sup- erintendent, who has as large lending limits as his general man- ager, through whom he reports to the board of directors. The list of points calling for re- view must appear formidable for the consideration of a simple bank credit, and possibly some of the conditions suggested are almost impossible in a practical world of business. There is no getting away from the fact that credits that are ideal in every particular are ex- tremely rare, and here is where the banker must use judgment, He knows what ought to be, but he has to take the conditions as they are, and other things being satis- factory, a shortage of working capital or some other unfavorable feature will not necessarily in- dicate that the business will not be a success. If the integrity and industry of the applicant are above criticism and his reputation for making money is good, the gain in his business will often overtake the weakness within a reasonable time, and the banker will be well- advised to look on his application with favor. Inventory and Receivables It would, of course, be possible to elaborate at considerable length on the various items that usually enter into the statement of a manufacturing concern or a man engaged in a commercial business, but there are two on which the fullest information is essential-- first the inventory, and second the receivables. These are both points on which the auditor can be of the greatest possible value to the manufacturer in preparing a true statement of his position, In former days a good many in- ventories were taken at the selling price, and an arbitrary figure deducted to arrive at what the manufacturer considered his cost, and this often caused him to live in a fool's paradise until one day he awoke to find that his goods were costing him a great deal moras than his statement showed. It is not good practice to use market value unless it is lower than cost, as by so doing a paper profit is often shown. The slump which began in 1920, was n written off by many of our busy ness men for months, and in some cases years afterwards. Those who successfully coped with the situa- tion took their losses early and wrote down their stocks, got rid of them, and replaced them with new goods at lower prices, for after all success in business de- pends upon the exchange of goods, and no money is made by retain- ing them in stock, no matter what value may be placed upon them. Manager Uses Judgment I have tried to emphasize the necessity for a bank manager rely- ing upon judgment rather than fig- ures, and I am going to take the liberty of impressing that too upon any of you gentlemen who are bookkeepers or accountants. There is a strong and natural tendency for a man dealing always with figres to regard them as the end and object of his efforts. Unless he is watchful the accountant is liable to become immersed in technicall- ties. He is so anxious to make up in inventories, Hoover A Special Sale Feature For Wednesday Splendid fitting garments in fast wash ing color Chambray--Colors, Green and Rose with White trimming. Good Value at $1.50. WEDNESDAY (TR) Dresses Blue, O8c Store Open All Day J \ his figures that he loses sight of the actual condition of the busi- ness, The accounting system should be made for the business and not the business for the system. All bankers are satisfied that there is the greatest necessity for proper systems of cost accounting and budgeting if concerns of any size are to survive under present day conditions, The days when the manufacturer could make money | without knowing the costs of his business operations have gone. The success of our friends across the line in the United States is large- ly due to their adoption of up-to- date methods. Over there, there is a great mobility in ideas, in fash- ions, in transportation, in adapting old processes to new conditions, and while paying higher wages they have actually {increased the amount produced. In the last twelve years the population of the United States has only increased some 16 per cent, whereas its pro- ductivity has been augmented by something like 30 to 35 per cen'. To mention only one item, their railways carry 22 per cent. more traffic. with about the same num- ber of men. There has been a great increase in the number of stu- dents in technical institutes, There were over 600 industrial research laboratories established in the last twelve years. The number of trained technical men employed in their industrial plants is larger than in any other nation and this has necessitated the employment of trained industrial accountants, and to this educational advance is due in no small measure their amazing prosperity and their suc- cess in selling their goods in the foreign markets of the world, in spite of many handicaps. While we do not wish to be slavish imitators, there is no reas- on why we should not adopt the best prac:ices of every nation, and on this question there can be no argument as to the increasing value of the expert accountant in every line of business. I would throw out the suggestion that if you want your credit to be good, if you want to be able to discuss your affairs frankly with your banker, if you want to be happy-- investigate and analyze, then forecast a budget both for income 2nd expenses, and keep checking t up. iis LE'S Is the Logical Store For Your We always have com- plete stocks in the differ- ent styles and all the new shades. Chiffon slipper heel. Pair Service with $1.50 Service Weight with haf i... 5195 r Pair .... .. Fine Sheer Chiffon. Silk | to the top. | Piquet edge, pr. speed and quick and smooth roa Cushio n resistance strains and bruising jolts--it's the principle that Saves them. "GP" Pure Gum Tubes AE Tr Lat your next tube high speeds-- sudden stops! MCR cars travel faster these days re- ust t to € severe 0 AY gag Af wei ped Se to Go to Gum "Built Better to Wear Better" Gutta Percha & Rubber, Limited, Toronto The largest All-Canadian Rubber Company. ' Founded in 1883 WALTER S. WILLIAMS CHURCH ST. TIRE AND RADIO pp TS a io) PE RE Cor. Bond and Prince St. | 15 Church Street.